Burnaby’s Tantalus Systems Corp. has yet to snag business in its home province, but the smart-meter communication technology company is poised for growth, thanks to a strategic partnership that it recently signed with Washington State-based Itron Inc. (Nasdaq:ITRI).
The collaboration will combine technology that Itron uses in its electricity meters with Tantalus’ communications network to create a product tailored specifically for public utilities.
The concept is to provide future public utility clients with better customer service, greater service reliability, more efficiency and better access to information about the use of smart meters.
“This is a milestone agreement that should further accelerate the growth at Tantalus,” said Tantalus chairman John McEwen in a release.
Last year, Tantalus executives told Business in Vancouver they wanted to supply BC Hydro with technology and support that B.C. utility’s $930 million smart metering and smart grid program. (See “Smart Grid; slow uptake” – issue 1082, July 20-26.)
Tantalus, which is a portfolio company of the British Columbia Discovery Fund (VCC) Inc., has technology that connects points on a grid and allows utilities and customers to improve management and monitoring of electricity use.
Last July, when Tantalus executives spoke with Business in Vancouver, the company had $25.3 million in annual sales and 81 staff.
Glen Korstrom
Twitter: GlenKorstrom